Tue May 15, 2012 7:22pm EDT
* One accounts designed lower than $201 in interest in 2011
* Obama praises JPMorgan despite dealing losses
WASHINGTON May 15 (Reuters) - U.S. President Barack Obama has $500,001 to $1 million in a very JPMorgan Chase personal customer asset supervision checking account, as outlined by personal disclosures unveiled from the White House about Tuesday.
Obama said this 7 days of which JPMorgan has been "one belonging to the most effective mastered banks now there is" despite its $2 billion dealing damage getting viewed from the Securities and Exchange Commission.
"This can be a viewing account used by the us president and the first lady," said White House spokeswoman Amy Brundage. "It is the equivalent of an interest-bearing examining levels offered by many other monetary institutions," your lady said, noting who's generated a lesser amount of than $201 within interest income inside 2011.
The president's 2011 disclosures in addition bundled a normal JPMorgan Chase checking bill within the $1,001 to $15,000 range. His alternative principal property listed $500,001 in order to $1 trillion in U.S. Treasury bills and also between $1 trillion plus $5 million within U.S. Treasury notes.
In a note in regards to the annual economic phrases which are submitted online, the White House mentioned "neither the president nor the particular vice chief executive have just about any fights with interest."
Obama, within an look and feel within the regular TV show "The View," that is taped with Monday and also aired on Tuesday, praised JPMorgan fundamental Jamie Dimon and mentioned the bank's loss exhibited the particular dependence on sturdy financial oversight.
"You might have a lender of which seriously isn't while strong, isn't really when rewarding doing those identical bets as well as all of us (the government) could possibly have had in order to step in. That's precisely why Wall Street reform's therefore important," he / she said.
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